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Farmers rue broken promises on rice import ban

FARMERS said the government has been inconsistent in its policy statements after it backed down from an earlier announcement suspending rice imports in order to prop up farmer incomes during the harvest.

NFA palay acquisitions 11.52 million bags in year to date

THE National Food Authority (NFA) said it has procured 11.52 million bags of palay, or unmilled rice, as of Nov. 20, amid the ongoing rice harvest.

Philex says Silangan timetable could slip if no financing by first...

BAGUIO CITY — Philex Mining Corp. said the initial stages of development of its Silangan gold and copper project in Surigao del Norte could be delayed if it canot raise $350 million in financing by the first half of 2020.

SMC pilot-testing road made from recycled plastics

SAN MIGUEL Corp. (SMC) said it conducted pilot tests on the first road in the Philippines made from recycled plastics, to help address the country’s plastic waste problem.

Gov’t backs down from rice import halt

THE GOVERNMENT has backed down from suspending rice importation amid the ongoing harvest, saying on Thursday that it will be stricter on issuance of sanitary and phytosanitary import clearances (SPSIC) instead.

Baguio targets closure of small mines by first half of 2020

BAGUIO CITY -- Baguio City hopes to close all small-scale mines within city limits by the first half of 2020 as an environmental-protection measure.

BSP sees no inflation impact from halt to rice importation

SUSPENSION of rice importation amid the ongoing harvest, as ordered by President Rodrigo R. Duterte, should have no impact on inflation, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Wednesday.

Global Ferronickel to sell 1-M WMT of ore to Baosteel

GLOBAL Ferronickel Holdings, Inc. (GFNI) agreed to ship one million wet metric tons (WMT) of ore to Baosteel Resources International Co. Ltd. in 2020.

Gov’t wavering on rice tariffs could weaken farmers’ market position

ACTION for Economic Reforms (AER), a non-government organization, warned the administration against sending any signals that would call into doubt the future of the Rice Tariffication Law, saying that its repeal will give rice traders even more leverage to depress the price they pay to farmers.

Agri dep’t targets further P3-billion cash assistance to rice farmers

THE Department of Agriculture (DA) said it hopes to add another P3 billion to its unconditional cash assistance fund for more rice farmers severely affected by falling palay prices.

Finance dep’t notes ‘disconnect’ between rice farmgate, retail prices

THE Department of Finance (DoF) said it will look into “potential distortions” in the rice market, citing the wide gap between farmgate and retail prices.

PHL defends bans on European pork

THE Philippine delegation to the World Trade Organization (WTO) defended Manila’s ban on pork imports from parts of Europe, citing the need to guard against pork from countries affected by African Swine Fever (ASF).

Cimatu orders probe on coffee plantation contract as IP community takes...

ENVIRONMENT SECRETARY Roy A. Cimatu has ordered a speedy investigation on the Integrated Forest Management Agreement (IFMA) of agricultural company M&S CO. in South Cotabato and Sultan Kudarat.

Poultry industry maintains 2019 growth target

AN ASSOCIATION of poultry farmers has maintained its 2019 growth target at 5-10%, with prices rising due to a shift to chicken consumption prompted by the African Swine Fever (ASF) outbreak in the Luzon hog population.

Palay farmgate price falls 0.4% in late Oct.

THE AVERAGE farmgate price of palay, or unmilled rice, declined 0.4% week-on-week in the fourth week of October to P15.43 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

8990 Holdings’s 3rd quarter income rises by 36%

MASS HOUSING developer 8990 Holdings, Inc. reported 36% increase in its net income in the third quarter, driven by rising sales from its affordable housing development.

Hog raisers still positive due to limited size of ASF cull

THE hog industry remains positive about its prospects this year, noting that the number of animals culled in the wake of the African Swine Fever (ASF) outbreak remains small, while prices are also expected to rise, prompting growers to increase production.

Gov’t tightens watch on imported rice

THE GOVERNMENT is matching the rising importation of rice with stricter implementation of existing rules for sanitary permits.

Arthaland’s green bonds get 2nd highest credit rating

ARTHALAND Corp. has been given the second highest credit rating by a local debt watcher for its planned issuance of fixed-rate green bonds worth P3 billion.

Global Ferronickel earnings up 19% in third quarter

GLOBAL Ferronickel Holdings, Inc. (GFNI) posted a 19% increase in its attributable net income in the three-month period ending September, as it benefitted from the increase in nickel ore prices and shipped higher-grade nickel ore.

Senate backs resolution vs liberalized sugar imports

THE Senate unanimously passed a resolution opposing the liberalization of sugar imports, citing the potential impact on more than 800,000 sugar farmers and workers across 20 provinces.

Miners seeking to join international industry group

THE Philippine Nickel Industry Association (PNIA) said it is pressing for a bigger role in an international industry group to better anticipate market developments.

Palay farmgate price falls 0.3% to P15.49

THE average farmgate price of palay, or unmilled rice, declined 0.3% week-on-week in the third week of October to P15.49 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

High-margin products help boost Axelum Q3 earnings

AXELUM Resources Corp. posted a 32% increase in net income in the third quarter, despite lower revenues as it shifted to production of high-margin products.

Rice inventory up more than 43% at start of October amid...

THE national rice inventory was estimated at 2.279 million metric tons (MMT) as of October 1, up 43.4% from a year earlier, and up 23.7% month-on-month, the Philippine Statistics Authority (PSA) said.

Golden Rice undergoing trials in Isabela, Nueva Ecija

GOLDEN RICE, developed by biotechnologists to address Vitamin A deficiency, is still in the process of completing field trials before it applies for permission to be commercially propagated, officials said, amid the risk that it could get caught up in a broader debate about the safety of genetically-modified foods.

Social enterprise to set up urban farms on subscription model

SOCIAL enterprise Uproot Urban Farms said it hopes to establish 10 grow hubs in Metro Manila next year to serve the growing population which it believes may not be adequately served by the agriculture industry in its current state.

Global rice output seen flat in November — USDA

GLOBAL rice production in November is expected to remain flat as a large harvest from India is expected to offset lower volumes from Indonesia and the Philippines, the US Department of Agriculture (USDA) said.

Mining industry seen growing in 2020 on Indonesia export ban

THE Mines and Geosciences Bureau (MGB) said it is projecting the mining industry to grow next year, factoring in the priority mining projects in the pipeline, as well as increased prices for nickel ore due to the export ban in place in Indonesia, the top producer.

Probe under way on troubled brokerage

THE CAPITAL MARKETS Integrity Corp. (CMIC) has placed R&L Investments, Inc. under involuntary suspension as it continues its probe on the stock brokerage that was reportedly forced to stop operating after an employee allegedly stole stocks from the firm worth more than P700 million.

DENR campaign touts ‘development’ opportunities from mining

THE Department of Environment and Natural Resources (DENR) said it has launched a responsible mining information campaign which it hopes will promote “pro-people” business practices while clearing up the public’s “misconceptions” about the industry.

Nickel Asia profit falls 43% in first 9 months on weak...

NICKEL Asia Corp. said net profit fell 43% in the nine months to September due to weak nickel prices as well as a stronger peso and investments in loss-making processing plants.

Bourse ends flat, but stays above 8,000 and up for fifth...

LOCAL SHARES ended flat on Friday in the face of MSCI rebalancing and signs of improving Sino-US trade ties, staying above 8,000 for the fifth straight day and gaining for the fifth week in a row.

Compensation fund of P1B approved for culled hogs

PRESIDENT Rodrigo R. Duterte has approved a P1-billion fund to compensate hog raisers whose pigs were culled during the African Swine Fever (ASF) outbreak on Luzon, which will be sourced from the Office of the President’s contingency fund.

Q3 farm output growth fastest in 2 years

FARM OUTPUT grew by its fastest clip in more than two years in the third quarter, as increments in most subsectors offset a drop for palay which accounted for 15% of total value of production, the Philippine Statistics Authority (PSA) reported on Wednesday.

Scientists predict El Niño in 2020 based on earlier warning method

BARCELONA -- The complex El Niño weather pattern that can bring disastrous heavy rainfall and long droughts to countries around the Pacific -- from Peru to Indonesia and Australia -- will probably emerge again in 2020, researchers have predicted.

3 Philippine companies to export chicken to South Korea

THE South Korean government has given the green light for three Philippine poultry manufacturers to start exporting chicken to South Korea.

Zoning plan for pork shipments due end-2019

THE Department of Agriculture will implement by the end of the year its National Zoning Plan governing the movement of pork products, amid resistance from some local governments to shipments of such items from areas affected by African Swine Fever (ASF).

Policy uncertainty affects BPO office demand

THE uncertainty surrounding the proposed tax reform measure and the current moratorium on new economic zones in Metro Manila is weighing on demand for new offices spaces from business process outsourcing (BPO) companies.

With masterplan, Davao hopes to avoid pitfalls of rapid urbanization

AN URBAN planner wants to transform Mindanao into the “front door” of the Philippines, beginning with the development of the Davao Region.

Nationwide round-up

THE Department of Agriculture (DA) is now finalizing a nationwide zoning plan that will control the movement of pork products to contain the spread of the African Swine Fever (ASF).

Sugar industry seen competitive in 5-10 years with SIDA funding

FUNDING authorized by the Sugar Industry Development Act (SIDA) is sufficient to make the sugar industry competitive after 5-10 years, sugar industry stakeholders said.

Negros Occidental plans permanent ban on Luzon pork; claims province is...

THE Negros Occidental government is looking into imposing a permanent ban on entry of pork and pork products from African Swine Fever (ASF)-affected areas as a means to protect the province from the continuous spread of the virus.

Palay farmgate price falls in mid-October

THE average farmgate price of palay, or unmilled rice, declined in the second week of October by 0.2% week-on-week to P15.53 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

Vitarich net profit surges in Q3

VITARICH Corp. reported its net income surged to P99.97 million in the third quarter of 2019, from P3.88 million a year ago, as consumers shifted to chicken amid the African Swine Fever (ASF) scare.